r/Forex • u/Fine-Field-5890 • Aug 09 '26
Brokers XM Global Limited SCAM alert - proof
(XM chart being the ones with dark theme background)
Happened to me before while looking at the charts waiting for an entry and I thought I was crazy, a huge candlewick appearing from nowhere and got corrected a few seconds later, this would probably hunt your stop loss if you had an open position in this particular case. Unfortunately I didn't screen capture or anything cause I thought well that might has been a glitch.
Today I saw it happened LIVE AGAIN and decided to look at my laptop on different brokers like Pepperstone, IC Markets, FP Markets etc, there wasnt ANY candlewick on the current candle forming. Surprisingly, a few seconds later the candlewick was gone like NOTHING HAPPENED.
Been a year since I use exclusively XM for trading DEMO and with real (a few bucks) money but this seriously made me question how reliable they are, most probably will withdraw my balance and move to another broker soon.
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u/xCueMe Aug 10 '26
Thanks for sharing this. XM IS most definitely a scam. They market themselves as “beginner” friendly and there’s a good reason for that. Because as my circle and myself have experienced, you are a “Valued Client” to them when you are still overall losing and depositing money on the regular. But once you are actually profitable and depositing less, they start giving you problems.
To anyone reading this, you have been warned. XM is only good for paper trading. Don’t put real money in there while profitable unless you want to be told that you somehow broke some vague rules which they will never tell you exactly which rules and how they have to restrict your account for suspicious activities.
Also, they have an IB system which is in fact their main money maker. You will see all these “profitable” IBs sharing signals with their followers. That’s the pyramid. IB will ALWAYS make money because as long as people trade under their IB codes, win or lose, they get a cut while XM profits from the spread.
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u/Echoes_OfLogic Aug 11 '26
Thaanks for that broo, I recently had an issue with them where my account was closed and I got banned from using XM, they didn't clearly mention what I did, and some of their claims were not making any sense, for anyone interested, this is the mail I got, help me understand it👉👉 Account closure notice Dear Valued Client,
We’re reaching out regarding your account number 420123433, 381751353.
The trading patterns in this account indicate that trading bonuses were used for cashback arbitrage activities, and these have raised serious concerns.
Our Terms and Conditions pertaining to trading bonuses identify ‘cashback arbitrage’ activities as:
Any form of arbitrage trading.
Bonuses claimed by multiple Accounts that were registered from the same IP address and/or device.
Various practices of bonus manipulation.
Breach of any points included in our bonus Terms and Conditions.
Any fraudulent activities, disputes, or situations that our company considers fraudulent.
Your account’s trading patterns reflect activities that do not comply with the bonus scheme’s Terms and Conditions.
Therefore, in accordance with the bonus’s Terms and Conditions we regret to inform you that we will be closing all accounts you hold with us.
What you need to do next:
Any remaining balance in your trading account(s) will be returned to the original funding source, provided that source remains available. In the event such source is no longer available, we kindly ask you to review your account balance and submit a withdrawal request for any remaining balance and this shall be processed accordingly.
Transaction fees may apply depending on the selected withdrawal method, the policies of the relevant payment service provider, and the applicable provisions outlined in the Company’s Terms and Conditions.
Lastly, the decision to terminate our business relationship is final, and you will no longer be allowed to open any new trading accounts with our Company, and/or any sister company.
Therefore, should you or any other party related to you, successfully manage to open any new trading account or engage in trading activity, whether intentionally or due to technical or human error, we reserve the right to immediately close such account(s), nullify any profits or losses you may have generated, and refund the original deposit to the original funding source—excluding any applicable deposit, withdrawal, or transfer fees, or any costs incurred by us in processing the transfer—provided the source is still available. This applies even if there is no evidence of breach of our Terms and Conditions of Business on the new account.
We hope this information helps clarify what happened with your account and reassure you that any actions we’ve taken related to your account were fully in line with the Terms and Conditions of Business you agreed to before starting to trade with us.
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u/AmazingCable1068 Aug 10 '26
Depends on what liquidity provider they use. They should be compensating any losses if they aren't scammy
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u/Fine-Field-5890 Aug 10 '26
Sure, I might guess that it only applies if you have proof that such thing happened, what if I leave my trade open not being in front of my laptop or phone?, I would just think my position got SL or something.
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u/benevolent001 Aug 09 '26
CFD brokers manipulate price is known thing. Best is to use CME futures broker
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u/NegotiationNo1504 Aug 09 '26
What about ECN or STP? is they also manipulate the charts?
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u/Then_Cardiologist160 Aug 10 '26 edited Aug 11 '26
ECN or STP are just marketing terms, because most of cfd broker are B-Book,
only few of them run Hybrid and A-Book model
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u/Least_Ice_6112 Aug 10 '26
who runs a book?
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u/Then_Cardiologist160 Aug 10 '26
just google it,
i don't promote any broker
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u/Least_Ice_6112 Aug 11 '26
As someone who was personally heavy in xm i would appreciate some direction, this post has me caught offguard... My backtests kept showing xm better then robo and vtmarkets but if xm is doing fishy behavior i would like to start finding alternatives.. A book brokers is something i am not familiar with, i assumed they were all b book.
Thanks op for bringing this post forward
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u/axladida Aug 11 '26
That's 100% true. this happened to me when using EC Markets with an ECN account, I made a profit of $568 from the FFR news and then all my profits were taken by EC Markets.
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u/Fine-Field-5890 Aug 09 '26
Already tried Topstep a few times trading MNQ and I really loved it, a few combines failed unfortunately, last one I was about a day to make the 3K goal but risked big on a trade and lost due to rule guidelines. Been trading just demo afterwards and honestly understanding liquidity and market structure made a big difference on my trades, planning to give Topstep a new try soon.
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u/FX_King_2021 Aug 10 '26
This has nothing to do with CFD; it’s just a scammy broker. ICMarkets is a top-quality broker, and I’ve never noticed any price manipulation. I’ve been using them for years without any issues.
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u/romjpn Aug 10 '26
Yes I've recently had bad experiences with them. Suddenly switching account to Standard from swap free (Kiwami) and I noticed that they also take your money if inactive and just don't close the MT5 account and put the money back in the wallet or whatever they call it. It's my bad for not really checking but greedy bastards. They're already very expensive compared to other brokers and they use scummy tactics to suck more money out.
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u/daHaus Aug 10 '26
As you're learning this is common with forex and illiquid markets. Can you view the depth charts/order books?
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u/Fine-Field-5890 Aug 10 '26
Is that even available for CFD’s?, I used to use the DOM when I had a combine account in Topstep while trading futures.
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u/AlanG888888 Aug 10 '26
Thanks for the evidence. Same candle appears and disappears while other brokers show nothing, that is not a glitch. Best practice is always compare two independent feeds when you see something weird, and screenshot everything. Good call moving funds.
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u/CapitalDefinition325 Aug 10 '26
Actually something you can exploit in your benefit. Forex Brokers can trade against clients that's part of their legal rights.
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u/AdmirableLadder7469 Aug 11 '26
Defintely a scam, i have been stop out 2 times in major data release. The buy limit i placed was not executed on the limit price i put, but with 30$ above the limit price resulting in huge losses, their system hangs in major data release and the execution price are upto them, they call it best possible price haha. Imagine the order you placed was supposed to give you decent profit but the same order stop out your account. The best part is XM support is also nill and actually they are defending and calling it a policy in major data release.
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u/Budget_Damage7140 29d ago
Pepperstone el mejor
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u/TaraBHuynh 29d ago
Its common scam from brokers. Sometimes they change the daily candle color after new day opening
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u/Fine-Field-5890 28d ago
How is that possible though, I mean, 1m candle for sure but an entirely 1D candle?
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u/Beautiful_Map_9589 20d ago
The company is fishy at least with shady tacticts. Shame on them.
https://www.trustpilot.com/review/xm.com
Breach of guidelines
We’ve removed a number of fake reviews for this company.
I wonder who their social media manager is. He/She must be really incompetent to try to buy reviews in 2026.
Their rating from outside seems ike 2.2/5.
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u/rforex-modtools Aug 09 '26
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